Can BuddyPress do this?

I’m new to BuddyPress and am wondering if it will do exactly what I want (isn’t everyone?)

Basically I want to set up a social network that pairs each user up with a corresponding WP blog. I want the user to be able to set the blog to private, viewable only by their BP friends AND by users who register as subscribers to their blog. I’d prefer for the second group of users to not have to sign up with BP if they only want to read the content on one particular BP user’s blog. The BP users should also be able to set their individual blogs to be public if they choose. Finally, I’d like one BP user to be able to see an RSS-like feed of the blog postings of all the other BP users with whom they are BP friends.